Definition of Ad valorem:
(of the levying of tax or customs duties) proportionate to the estimated value of the goods or transaction concerned.
Method for charging a duty, fee, or tax according to the value of goods and services, instead of by a fixed rate, or by weight or quantity. Latin for, [according] to the value.
In proportion to the estimated value of the goods or transaction concerned.
How to use Ad valorem in a sentence?
- Ad valorem stamp duty at the rate of 1 percent is payable.
- The ad valorem tax was estimated prior to the departure for the team members so they were expecting to pay that amount.
- You may have an item that has an extra tax and you must take this ad valorem into account when setting the price.
- I hated ad valorem and would one day try to get into a position of power to change things like it.
Meaning of Ad valorem & Ad valorem Definition